S&P500 daily update

Market recovers all of wednesday's losses and heads into what may well of course be resistance at 2400 at the end of the red Amalgamation DB T structure. A pause or pullback here would be consistent with that, and would also test the strength of the move that is the New small T with its first main arm projecting into Friday for the holiday weekend. However the continued rise of the T volume oscillator gives credence to the new small T and increases the possibility that this is a bigger structure, now potentially drawing power from the 1 March high.

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Market triggers a second Buy Signal at the open and is confirmed by the close above 2385.
It appears that the market is in a hurry to correct last week's drop and get back to the all time highs with a slingshot move.

Today is the endgame of the DB T structure, and the T volume oscillator has recovered to the point that gives strength to the New small T and projects towards the cluster of scheduled highs in the first week of June.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

“There is surely nothing other than the single purpose of the present moment.
A man's whole life is a succession of moment after moment.
There will be nothing else to do, and nothing else to pursue.
Live being true to the single purpose of the moment.”

– Tsunetomo Yamamoto, Hagakure: The Book of the Samurai

A strong gap and go up into and above the Buy Signal line, but couldn't hold onto all of the gains into the close, cancelling the Buy Signal for now. Failure occurred at the mid-channel line.

The T volume oscillator improves considerably showing strong breadth behind yesterday's rally, and supports the possibility that we have a new small T structure – if the low holds.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

A strong rally off the lows but fails at the 2375 level.

If the low holds then we have a small T with possible strength into early June and the next scheduled echo high.
However the short signal is still active and further 'stabilisation' or downside may be required.

Interestingly the market closed right on the 55 ema – direction uncertain.

A move up through 2375 would obviously be important, as would a break down lower than yesterday's low at 2352.

SKEW moves up indicating the prescence of possible further event risk in Trump town.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

A dramatic gap down to the Sell Signal level and a short signal triggered in early trade.
A late morning bounce failed at lunchtime and selling resumed.

Potential support lies just below on a rising line from the Election low, but with such a strong sell signal we might expect to see some stabilisation before the next bullish move.

We should now consider the current T structures complete, although we may see some echoes from the secondary structure, and we should be looking for a new low to form and to set up the next large T structure.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Market still struggling to hold onto gains above 2400, but finding some support at the long term rising line.

Still standing at the crossroads…

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

When the child was a child,
It was the time for these questions:
Why am I me, and why not you?
Why am I here, and why not there?
When did time begin, and where does space end?
Is life under the sun not just a dream?
Is what I see and hear and smell
not just an illusion of a world before the world?
Given the facts of evil and people.
does evil really exist?
How can it be that I, who I am,
didn’t exist before I came to be,
and that, someday, I, who I am,
will no longer be who I am?

Peter Handke, Songs of Childhood, from the film: 'Wings of Desire', Dir: Wim Wenders (1987)

Mercury – the god of finance – does his thing, and lifts the market back to all time highs, indicating that the T structures are very much alive and that Friday was most likely an echo low associated with the secondary DB (double bottom) structure.

Further strength is to be expected but be aware that this is potentially moving into the endgame of the red 'amalgamation' DB T structure, and that the endgame of a T structure is often a strong push up followed by a distinct lack of buying power.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Market moves into a Warning phase but contained its drift lower, and just held above the Buy Signal line into the close.

T volume oscillator turns negative and the Osc oscillator looks close to a sell signal, indicative of the slowing momentum.

Starting to build a descending resistance line, and reinforcing the apparent double top, for now.

The prescence of a short term peak at the significant arm of the Amalgamation DB (Double Bottom) T structure leads me to believe that it is the Primary Structure and that the T structure drawn at the 13 April low is now secondary and projects echo lows rather than highs.

This means that we should see a significant lack of buying power at the end of the Amalgamation DB structure which only projects as far as 18 and 23 May. I believe that we will then be looking for a new low or series of lows to define a new T structure.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

A successful test of the previous 2 lows at 2381 and also the 21 ema, and the market recovers back within the S/T channel and holds onto the Buy Signal, for now. But some damage has been done.

The next negociation is the arm of the new T structure from the 16 March high to the 13 April low which projects to today.

Yesterday's break lower from the rising support line confirms the 09 May high in-line with the red Amalgamation T structure, and there is now a potential descending resistance line from that high.

We need to see a close above 2400 to change the outlook.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Deep Blue was a chess-playing computer developed by IBM. It is known for being the first computer chess-playing system to win both a chess game and a chess match against a reigning world champion under regular time controls.

Market continues to hold onto the rising line from the recent low, and the oscillators improve suggesting continued strength into the next projected peak.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.